A small magnet is suspended by a silk thread from a rigid support such that the magnet can freely swing. How will it come to rest?
It will come to rest in geographic north-south direction with north pole towards geographic north, making some angle with the horizontal.
It will come to rest in geographic north-south direction with north pole towards geographic north (south pole of Earth's magnet). The magnetic axis and the geographical axis (axis of rotation) of Earth do not coincide with each other. Hence, it will come to rest at some angle with the horizontal.